Black Knight To Acquire Top of Mind Networks For $250M Cash

  • Black Knight Inc BKI agreed to acquire Surefire developer Top of Mind Networks for $250 million in cash.
  • Surefire is a customer relationship management (CRM) and marketing automation system for the mortgage industry.
  • Primus Capital held a majority stake in Top of Mind with a significant minority stake by the founders.
  • Top of Mind is estimated to contribute $13 million in synergistic revenue to Black Knight's Origination Software business in the second half of 2021.
  • Black Knight CEO Anthony Jabbour estimated the arrangement to help the lender clients of all sizes to close more loans and create lifelong customers.
  • Black Knight held $44.9 million in cash and equivalents as of Mar. 31, 2021. It had a debt of $2.26 billion and an available capacity of $883.0 million on a revolving credit facility.
  • Price action: BKI shares closed higher by 2.39% at $73.76 on Thursday.
  • Related content: Benzinga's Full Merger and Acquisition (M&A) Calendar
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: M&ANewsTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!